Loading...
Market
What will be the outcome of Volkswagen's factory closures and downsizing plan by the end of 2025?
2
Resolution / Starting Odds
Closes 3+ factories and downsizes others • 25%
Closes less than 3 factories, no downsizing • 25%
No closures but downsizes existing factories • 25%
No closures or downsizing • 25%
Official announcements from Volkswagen or major news outlets
Story
Volkswagen Plans 10% Wage Cut, Close Three Factories in Germany to Save €4 Billion
Oct 28, 2024, 10:17 AM
Volkswagen is considering significant cost-cutting measures, including a 10% wage cut and a two-year wage freeze, to save €4 billion. The company plans to close at least three factories in Germany, including the Osnabrueck plant, and downsize all remaining plants, which could result in tens of thousands of job losses. The measures also include capping bonuses for top executives and outsourcing or shifting entire departments abroad. Volkswagen's Works Council has expressed strong opposition, with workers rallying at German car plants and calling for a government plan to kickstart electric mobility.
View original story
Similar markets
All planned closures and wage cuts implemented • 25%
Some closures and wage cuts implemented • 25%
No closures but wage cuts implemented • 25%
No closures or wage cuts implemented • 25%
Wage cuts implemented • 25%
Plant closures executed • 25%
Forced layoffs conducted • 25%
None of the above • 25%
Less than 1 billion euros • 25%
1 to 3 billion euros • 25%
3 to 5 billion euros • 25%
More than 5 billion euros • 25%
No closures • 25%
One closure • 25%
Two closures • 25%
Three or more closures • 25%
Close one factory • 25%
Close two factories • 25%
No closures • 25%
Other • 25%
None • 25%
One • 25%
Two • 25%
Three or more • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%